FTX claims climb to 57% as Sam Bankman-Fried found guilty on all counts
The current claim pricing of FTX has reached a maximum of 57%, according to data from Claims Market. The increase in FTX’s claim pricing is attributed to the valuation of artificial intelligence (AI) companies that the now-bankrupt crypto exchange previously invested in.
Creditors stake their claims to try to recoup some of their investment when businesses experience financial difficulties or bankruptcy. Based on estimates of the total amount recovered, investors frequently trade these claims. There is an increase in the estimated recovery value when the pricing of a claim rises.
As the value of FTX’s investment in these AI companies jumped, so did the potential amount that could be recovered from its bankruptcy procedure. A claim is a legal assertion of a certain monetary amount.
The claim percentage value refers to the percentage of the investment amount expected to be recovered from the platform. FTX claims value has jumped to the highest spot when compared with other bankrupt crypto firms, such as Celsius with 35–40%, Genesis with about 50%, Alameda with 10% and Three Arrows Capital with only 7–9%.
Related: ‘Fuck regulators,’ said SBF behind closed doors: Report
The surge in FTX claims also comes amid former FTX CEO Sam Bankman-Fried’s public trial ending on Nov. 2, with the jury finding him guilty on all seven charges. The judge will announce sentencing in March 2024.
The FTX claims have been a major topic of discussion among the crypto community throughout the bankruptcy proceedings. Earlier, the judge in the case had allowed FTX to sell nearly $3.4 billion worth of crypto assets in the market to compensate creditors. With the rising price of cryptocurrencies and increasing valuation of companies that FTX invested in, the creditors stand a healthy chance of returning a significant chunk of their lost money from FTX.
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A reference to China being an “enemy” of the UK was removed from key evidence for a collapsed spy trial in 2023 as it “did not reflect government policy” under the Conservatives at the time, according to the national security adviser.
In the letter published by parliament’s Joint Committee on National Security Strategy earlier on Friday, National Security Adviser (NSA) Jonathan Powell said Counter Terror Police and the Crown Prosecution Service were aware of the change made by Deputy National Security Adviser (DSNA) Matt Collins.
This would mean the CPS knew the “enemy” reference had been removed before charging the two suspects, according to Mr Powell.
In another letter published on Friday, the director of public prosecutions (DPP) Stephen Parkinson told the committee that it took DSNA Mr Collins more than a year to confirm to prosecutors he would not say China posed a threat to UK national security in court.
Politics latest: Farage reacts after Reform defeated by Plaid
The DPP said a High Court judge ruled in June last year that an “enemy” under law is a state which “presently poses an active threat to the UK’s national security”, prompting the CPS to ask the DNSA whether China fulfilled that criteria.
He added prosecutors did not believe there would be “any difficulty in obtaining evidence” from Mr Collins that China was a national security threat, but added: “This was a sticking point that could not be overcome.”
Mr Parkinson added that the DNSA’s “unwillingness” to describe China as an active or current threat was “fatal to the case” because Christopher Cash and Christopher Berry’s defence teams would have been entitled to call him as a witness.
The DPP added: “This factor is compounded by the fact that drafts of the first witness statement, reviewed by us in July 2025, showed that references to China being an ‘enemy’ or ‘possible enemy’ had been deleted.
“Those drafts would probably have been disclosable to the defence.”
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What do we know about the China spy case?
A final draft of Mr Collins’ statement was sent to then-prime minister Rishi Sunak in December 2023, Mr Powell’s letter said.
“Drafts of a statement provided to DNSA included the term ‘enemy’ but he removed this term from the final draft as it did not reflect government policy,” the letter reads.
Read more:
MI5 boss on threats from China
The three key questions about the China spy case that need to be answered
It comes amid a political row over the collapse of the prosecution of Christopher Berry and Christopher Cash last month, who were accused of conducting espionage for China.
Both individuals vehemently deny the claims.
Because the CPS was pursuing charges under the Official Secrets Act 1911, prosecutors would have had to show the defendants were acting for an “enemy”.
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China spy row: Witness statements explained
DPP Mr Parkinson has come under pressure to provide a fuller explanation for the abandonment of the case.
He has blamed insufficient evidence being provided by the government that Beijing represented a threat to the UK at the time of the alleged offences.
The Conservatives have accused Sir Keir Starmer of letting the case collapse, but Labour has said there was nothing more it could have done.
The current government has insisted ministers did not intervene in the case or attempt to make representations to ensure the strength of evidence, for fear of interfering with the course of justice.
Sir Keir Starmer met Chinese premier Xi Jingping in November 2024. Pic: PA
The DNSA and DPP will face questions from the parliamentary committee on Monday afternoon.
The current attorney general, Lord Hermer, and the chancellor of the duchy of Lancaster, Darren Jones, will be questioned on Wednesday.
The PM’s spokesman reiterated the government’s position that “what is relevant in a criminal case of this nature is the government’s position at the time of the alleged offences”.
Politics
Who is Lindsay Whittle? The man who stood unsuccessfully in Caerphilly 13 times, then won on the 14th try
Lindsay Whittle stood for election in Caerphilly 13 times since 1983 – and on the 14th attempt, he finally succeeded.
In the process, the 72-year-old local boy – nicknamed “Mr Caerphilly” – humiliated the Labour Party, which had held the Senedd seat since its creation in 1999 and the Westminster constituency for over a century.
Born in the miner’s hospital, Mr Whittle lived in a council house and grew up in the town, located to the north of Cardiff, that he now represents.
A lifelong Plaid Cymru activist, his interest in politics was first piqued in the 1960s. He said he even missed an O Level (GCSE) exam in the 1970s because he was out canvassing for the party.
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Watch Lindsay Whittle’s victory speech.
Mr Whittle was first elected in 1976 to represent the Penyrheol and Trecenydd ward on Rhymney Valley district council, and he was re-elected repeatedly until the council was abolished in 1996.
He then contested the Penyrheol ward on the new Caerphilly County Borough Council, created in 1995, and was elected to represent it seven times. He served as the council’s leader for two periods between 1999 and 2004, and has also served as Plaid Cymru’s group leader on the council since 2022.
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Plaid Cymru is ‘ready to lead Wales’, party leader Rhun ap Iorwerth told Sky News.
But, despite his success at the local level, Mr Whittle was only able to secure election to the then Welsh Assembly once in six attempts since its creation in 1999, becoming an MS on the South Wales East list 2011, before losing his seat in 2016.
In those five years in Cardiff, he was appointed Plaid Cymru’s spokesperson for Social Services, Children, and Equal Opportunities, and he was able to work on his key political interests of housing and local government, as well as combating homelessness.
Lindsay Whittle in front of the Caerphilly Castle after his victory. Pic: PA
Read more from Sky News:
Reform beaten by Plaid Cymru in Caerphilly by-election
Analysis: Farage nowhere to be seen as Reform loses by-election
Election by the people of his hometown of Caerphilly has always eluded him, however, having lost the 13 other elections for Westminster and the Senedd that he has stood in throughout a lifetime in Welsh politics.
But that all changed last night when he was elected with a majority of nearly 4,000 votes to take over from the late Hefin David, the beloved Labour representative to whom he paid tribute in his victory speech.
Lindsay Whittle speaking to Sky’s Jon Craig at the election night count in Caerphilly. Pic: PA
Speaking to our chief political correspondent Jon Craig as dawn broke over the town he was born in and now represents, Mr Whittle said: “I would need to be a poet to put into words how I genuinely feel about the honour that all the people of Caerphilly have bestowed upon me.
“Almost half of the people who went out to vote, just 2% short of half of the people, put their confidence in Lindsay Whittle and Plaid Cymru. I cannot tell you what an honour that is.”
He added: “Retirement is not for me. I’m not the sort of guy who relaxes on beaches. In fact, I don’t think I ever relax. It’s people. It’s people that make me carry on.”
If approved, the charter would allow the crypto exchange to offer federally regulated custody and trust services in the United States.
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